The Council of Ministers approved this Friday, November 28, a proposed law aimed at encouraging housing construction and rental, through a tax reduction, announced the Minister of the Presidency.
The proposed law, which will go to parliament, includes a legislative authorization to reduce existing tax burdens on the construction of houses intended for housing and housing rental, explained minister António Leitão Amaro, at the end of the meeting.
This measure comes after, in September, the Government approved the “Build Portugal – Rental and Simplification” program, which provided for the implementation of a VAT rate of 6% “in the construction of houses for sale up to 648 thousand euros or, in the case of rental, for rents up to 2,300 euros”, to be in force until 2029.
At this Friday’s press conference, Leitão Amaro explained that the Government approved the diploma that “greatly” reduces taxation in this sector.